Apple stock jumps by $17.1 billion after investor tweet

Apples stocks surged today after billionaire investor Carl Icahn tweeted that the company was currently undervalued. “We believe the company to be extremely undervalued,” he tweeted, before adding “Had a nice conversation with Tim Cook today. Discussed my opinion that a larger buyback should be done now. We plan to speak again shortly.”

Reports suggest that Icahn has amassed more than $1 billion worth of Apple shares. It’s less than 1 percent of Apples total value, but a significant amount nonetheless.

After his tweets were published online a surge in shares were bought, increasing Apples stock by 4.75 percent. It’s currently trading at $490.78 per-share, significantly lower than last Septembers peak of $705 but still better than $390 seen earlier this year.